First Premier Bank is a full-service bank based in Sioux Falls, South Dakota. It has a state charter and is a federal member bank, which means it is supervised by the Federal Reserve. As of 2015 it had 315 full time employees, $1.5 billion in assets, of which $861 million were invested in loans and leases. First Premier Bank was established in 1929, has an A+ rating with the BBB, and a five star rating with Bauer Financial.
What Services Does First Premier Bank Offer?
First Premier Bank offers all the services you would expect from a traditional bank, such as checking accounts, saving accounts, credit cards, personal loans, mortgages, CDs, business banking, safe deposits, trusts and investments.
What Are First Premier Bank's Interest Rates?
First Premier Bank offers an annual percentage yield of 0.01% to 0.08% on checking accounts and 0.01% to 0.10% on savings accounts, depending on the balance you keep in your account.
Credit cards usually have a 36% APR and expensive annual fees. However, First Premier Bank is open to people with low or no credit and reports to the three major consumer reporting agencies.
What Are First Premier Bank's Fees?
First Premier Bank charges a $10 monthly service charge on accounts with a balance of less than $500. Credit cards charge fees of up to $75 a year.
How Is First Premier Bank Better Than Other Financial Service Providers?
First Premier Bank provides a wide variety of banking services and is highly rated by the BBB and Bauer Financial. It's open to people with all types of credit history and reports to the major credit bureaus. On the other hand, it charges high interest rates and fees while its annual percentage yield on savings and checking accounts is low.